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These notes are issued for the information of taxpayers and their tax - page 68 / 68

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Article 27

TERMINATION

160.

The Comprehensive Arrangement shall remain in force indefinitely,

but One Side may give the Other Side written notice of termination on or before 30 June in any calendar year beginning after the expiration of a period

of 5 years from the date of its entry into force.

In such event, the

Comprehensive Arrangement shall cease to have effect from:

  • (1)

    in the Mainland: the taxable year beginning on or after 1 January in the calendar year next following the year in which the notice is given;

  • (2)

    in Hong Kong: the year of assessment beginning on or after 1 April in the calendar year next following the year in which the notice is given.

CONCLUSION

161.

The Comprehensive Arrangement is intended to effectively resolve

problems of double taxation faced by residents of the Mainland and Hong Kong and to promote commercial and trading activities between the two Sides. The explanations concerning Mainland taxation treatment mentioned in this Note (in the Chinese version) have been vetted by the International Taxation

Department of the State Administration of Taxation.

This would contribute to

the effective implementation of the Comprehensive Arrangement.

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